FAQs on WILL & NOMINATION

FAQ'sBy CA Vimal Punmiya

Q.1  What is a Will and the benefits of making one?

Ans: A WILL is a written document in which you provide for:-

  1. the administration of your estate/assets when you die; and
  2. the distribution of your possessions in specific proportions to specific people whom you wish to have a share of your estate/assets;
  3. appoint a person or persons of your choice to administer your estate; and
  4. appoint a guardian or guardians for your infant children (if any).

In other words it a document where you direct, who is to receive your property upon your death. If you have any real property (land) or personal property (cars, jewelry, money) that you want to give to a specific person than you must have a will.

Q.2  Should everybody – working or non-working person, man or woman make a will? and  What if you die without making a Will

Ans: “Where there’s a Will, there’s a way….Where there is no Will, there will probably be family bitterness/family disputes…” If people die without a WILL, then the law will decide to whom the property of the deceased person should go to. Thus, every person whether working or non working , man or women should make a will.





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